Why FuelCell Energy, Ballard Power, and Plug Power Stocks Are Falling
Well, that was certainly disappointing.
After scoring big gains in each of the five trading sessions leading up to earnings day, FuelCell Energy (NASDAQ: FCEL) stock finally met its comeuppance on Wednesday, falling as much as 29.9%. Earnings for the fuel-cell pioneer's fiscal fourth quarter only missed expectations by a penny.
Still, that earnings miss, combined with an absolute decline in revenue of 38% and a net loss for the quarter, were enough to derail the stock's rally, sending FuelCell stock down 22.9% by the close of trading -- and subtracting a further 22.5% in market cap this morning, as of 10:50 a.m. EST.
Source Fool.com
